VP, Credit Loss Forecasting

Job Description:

Role Summary/Purpose:

This role is within the Credit Forecasting and Advanced Analytics team. The team has the overall responsibility to forecast Credit losses on the entire Synchrony portfolio of loan receivables for all use cases.

The Credit loss forecasting process is subject to SOX controls and utilizes several models and non-model tools to create forecast for credit losses that is used downstream in calculating quarterly Allowance for credit losses, and is a critical input to Stress testing and Capital planning as well as business planning. This role focusses on overall process and model/ non-model tool governance responsibilities across the entire Credit Loss forecasting process, and will collaborate with colleagues within the team, and across several second line, third line teams, finance controllership and will be actively engage in external audits as well as regulatory reviews. The role also includes advanced credit analytics of portfolio performance and forecast to assess the reasonability of outcomes from model/ non-model tools. This position presents the opportunity to gain multiple critical experiences in advanced credit analytics, technical tools, models and process governance, leading through influence, and communicating to senior management across first, second and third lines, as well as external reviewers.

We prize intellectual curiosity, passion, problem solving skills, effective communication, and empathy, and join those with the Synchrony Values and our own subject matter acumen to deliver well-informed estimates and share our analytic expertise throughout the company.

Our Way of Working

We’re proud to offer you choice and flexibility. At Synchrony, our way of working allows you to have the option to work from home, near one of our Hubs or come into one of our offices. Occasionally you may be required to commute to our nearest office for in person engagement activities such as business or team meetings, training and culture events.

Essential Responsibilities:

• Lead the Loss Forecast Process and Model governance

  • Ensure that all existing standards for process governance are properly applied across all aspects of the process. Evaluate any change in policies and standards for process governance and evaluate gaps. Evaluate any process design changes and their impact on operational risk.

  • Ensure all team members and direct stakeholders are aware about their responsibilities related to process risks and controls. Maintain evidence of all controls being performed as designed and in a timely manner. Perform periodic reviews of control evidence

  • Formulate plans to address governance and control gaps, and implement the remediation in a timely manner

• Responsible for all process and governance requests, including audits and exams, from second line, third line, SOX controllership, external auditors, and regulators, including coordination within and outside the functional area.

• Perform periodic as well as triggered reviews and updates to RAQ and PRCSA as per Enterprise process governance standards and schedules

• Responsible for maintaining up-to-date process documentation including process maps, process risks & controls inventory and descriptions

• Responsible to assess the need for new non-model tools and ensure all tools are rated appropriately based on associated risks, and appropriate controls are established and are executed in a timely manner. maintain an up-to-date inventory of non-models tools used across the team,

• Evaluate reasonability of outcomes from models and non-models tools. Together with the Loss Forecast area leader, prepare a robust review packages of credit loss estimates for reviews with senior leaders across Credit and Finance function

• Perform other ad-hoc analysis to support emerging business needs in related areas

• Lead the issue management analysis and resolution related to models and process (root cause analysis, actions plans, issue and actions tracking and resolution)

• Assist Model owner with model risk management responsibilities including review of model development documents, documentation for model changes. Ensure all model monitoring is performed as per approved ongoing monitoring plans in a timely manner

• Assist the process owner in preparation of quarterly ACL memos, drafting narratives related to credit loss forecasting for the annual Capital plan

• Actively engage with all team members to promote a simplified process design, supported by appropriate automation that is designed for efficiency and mitigation of op